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Forex Flash: EUR/USD technicals indicate upside ahead - Nomura

Nomura Strategist Saeed Amen has taken a look at EUR/USD from a purely technical perspective.

Looking at a daily chart he sees that spot is lower on the week but he is retaining his bullish outlook. He writes, “Bandwidth has turned suggesting the downward breakout is getting exhausted and it is likely to move to a more range-bound environment.” Further, he adds, that RSI has bounced, indicating a short term low has been reached and his target is 1.3300 where the 55 MA lies.

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